Zedcor Inc. Announces Election of Directors and Stock Option Grant

Rhea-AI Summary

Zedcor announced the election of directors at its annual meeting on May 23, 2024. The elected directors are Wade Felesky, Brian McGill, Dean Swanberg, Dean Shillington, and Todd Ziniuk.

The company also granted options to purchase 2,150,000 common shares at $1.25 per share to non-management directors and the corporate secretary. These options, part of a 10% rolling stock option plan, will vest over three years and expire in five years.

Positive

• Election of experienced directors, potentially strengthening governance.
• Granting of stock options could align directors' interests with shareholders.
• Stock options vesting over three years may help retain directors long-term.

Negative

• Potential for dilution with 2,150,000 additional shares.
• Stock options may indicate significant insider control, reducing external influence.
• Exercise price of $1.25 per share may not be favorable if the current share price is significantly lower.

Calgary, Alberta--(Newsfile Corp. - May 24, 2024) - Zedcor Inc. (TSXV: ZDC) (the "Company" or "Zedcor") announces the following individuals were elected directors at the annual meeting of shareholders of the Company, held on May 23, 2024:

Wade Felesky 
Brian McGill 
Dean Swanberg 
Dean Shillington 
Todd Ziniuk

The Company also announces today that options to purchase 2,150,000 common shares of the Company were granted to the non-management directors, Wade Felesky, Brian McGill, Dean Swanberg and Dean Shillington, and the corporate secretary of the Company, with an exercise price of $1.25 per share. The options have been granted pursuant to the Company's 10% rolling stock option plan and will expire five years from the date of grant. All the options will vest as to one third thereof on each of the first, second and third anniversaries of the date of grant.

About Zedcor Inc.

Zedcor Inc., a Canadian public company, is a technology enabled company that is changing how physical security services are provided to businesses. Zedcor operates throughout Canada with equipment and service centers in British Columbia, Alberta, Manitoba, and Ontario. The Company also operates in Texas with a MobileyeZ^TM assembly facility in Houston and equipment and service centers in Houston, with plans to expand to Dallas, Austin, San Antonio and West Texas by the end of the year. The Company has three main service offerings to customers across all market segments: 1) surveillance and live monitoring through its proprietary MobileyeZ^TM security towers; 2) surveillance and live monitoring of fixed site locations; and 3) security personnel.

The Company operates a fleet of over 950 proprietary MobileyeZ^TM security towers, equipped with high resolution, technology-based cameras, and monitors numerous fixed site locations for customers across various industries. Video from security towers and fixed site locations is streamed to the Company's central monitoring station where video alarms are live verified and responded to based on customer requirements. Zedcor also offers high level security guard services to enterprise level customers who are interested in supplementing video-based security for valuable, high risk, or mission critical operational assets.

For further information contact:

Todd Ziniuk
Chief Executive Officer
P: (403) 930-5430
E: tziniuk@zedcor.com

Amin Ladha
Chief Financial Officer
P: (403) 930-5430
E: aladha@zedcor.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/210578

FAQ

What was announced at Zedcor's annual meeting on May 23, 2024?

Zedcor announced the election of five directors and the granting of stock options to non-management directors and the corporate secretary.

How many shares were granted in stock options by Zedcor?

Zedcor granted options for 2,150,000 common shares.

At what price are the stock options exercisable in Zedcor's recent announcement?

The stock options are exercisable at $1.25 per share.

Who received the stock options in Zedcor's announcement?

The stock options were granted to non-management directors and the corporate secretary.

What is the vesting schedule for Zedcor's newly granted stock options?

The stock options will vest one third on each of the first, second, and third anniversaries of the grant date.